The Unknown Advisor is an investment advisory representative for a registered investment advisor in Florida. This blog is not about selling. It's about general investment information, about what has worked, over time in investing. Asset allocation, for example, has worked. Because certain things have worked, they are likely to work in the future. Feel free to email me questions.

Saturday, January 26, 2008

FT: (free registration required) US pawnbrokers benefit from hard times

A sign of the times?

On Manhattan’s 47th Street, the New York block through which about 90 per cent of US diamonds are sourced, some merchants report a sharp uptick in the amount of jewellery being brought in for sale. 'Its real sad – they don’t want to sell,' said Ruben, a 52-year-old street hawker who buys jewellery from passers-by in the diamond district. They might have paid $150,000 for a necklace but they will get back $25,000 or $30,000 at most. But it’s either that or lose their house.